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August 8, 2014

GBP/JPY Daily forex post- US session August 8, 2014

Posted by: ffs @ 13:38 GMT Category: Daily Forex,GBP/JPY,Signals

GBP/JPY Technical view

Updated:  August 8, 2014 13:38:42 GMT
SPOT GBP/JPY Previous day OHLC
Open High Low Close Change
172.01 172.62 171.66 171.84 -0.19
Today's Support and Resistance
Resistance
Support
R3 173.30
R2 173.00
R1 172.60
S1 171.30
S2 171.00
S3 169.50

Sterling is sharply lower in a volatile session versus the yen. However, a close above 171.30 could be positive for the UK currency as the gains could extend to 173.00- 173.50 in the near term. The downside risk still persists and supports at 169.50 could still be tested

Trend direction

  • Short term: Bullish
  • Medium term: Bullish
  • Long term: Bearish

Trading Recommendations

  • Short:

    • N/A
  • Long:

    • Long Sterling at 169.70 with stops at 169.30 for targets of 171.00
Post ID: 9785
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